Ono Island realty sales are off to a great start in 2015 with 22 closed sales year to date! The news is even more promising for luxury waterfront property owners, with 4 of the 22 sales for the year closing at over 1 million dollars and 2 other closings at over $900,000. It is a wonderful thing to see real estate on the island bouncing back in such a big way. For those with little to no experience with Ono, it is a beautiful island in Orange Beach with luxury homes, residents and guests protected by a 24-hour guard gate and private security patrols. You must have expressed permission from a property owner to be granted access, which keeps any unwarranted traffic off the island roads.
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If you are a current property owner on Ono and either have your property listed with a real estate brokerage or thinking about putting your home on the market, it is important to review the additional year to date market stats. Homes are currently selling for 91.84% of their list price and the average sold price per square foot is $209.96. The average number of days on market is still very high at 295 days, yet the least amount of days on market to produce a sale is 69. One of the most important factors to keep in mind is the competitive nature of the Ono Island real estate market, with nearly 80 active homes currently offered for sale. There are 6 homes pending sale, with the highest asking price being just under 1 million dollars.
My Ono property value outlook is very positive for the remainder of 2015 and beyond. Current and future sellers, at least for the time being, need to understand that with such a large active residential inventory for potential buyers to select from, that market conditions can best be described as a price war and a beauty contest. You need to make certain that your property looks good, feels good and smells good from the curb to the closets, thus don’t leave any outstanding projects undone. Buyers want turn-key ready, so if the sun rays and salty air are taking a toll on your exterior paint, don’t wait for a buyer to give you negative feedback on that issue after a showing, address it now! Make sure you hire an agent that is prepared to contract with a professional photographer for all your marketing images. Our team uses aerial photography as well, which is especially important for waterfront property locations, as buyers can get a true sense of the water frontage and open water access.
Ono Island Realty Sales YTD 2015 information provided by the Jason Will Real Estate Team 251-866-6464. For a free no-obligation listing consultation, you can reach Jason Will direct on his cell at 251-583-9728 or via email at jason@jasonwillrealestate.com.